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From the TechCrunch article comments: "Roberto Alsina Just a small clarification about this bit: "They then start talking about money because they need to inc
by jarin 16y ago
From the TechCrunch article comments:
"Roberto Alsina
Just a small clarification about this bit:
"They then start talking about money because they need to incorporate a company that can deal with companies outside of Argentina and that will cost $15,000. They also needed to know if they were going to make over $100k/year or 500k/year as that would require different registrations…"
I am from Argentina, and I own a company. Yes, in order to bill services to foreign customers, you need to register your company as an "exporter of services". And to do that you have to put money on escrow (but not $15000, only $7500), or your company has to demonstrate assets for over $12500.
If Russo has been working without an incorporated company (he could be a "monotributista", which is a way to bill as a physical person). A monotributista can export services, but... he's personally liable, so doing security consulting that way is insane.
That's probably why Russo could be asking for money up-front: if he didn't, he would have been doing business illegally."
- loboman 16y agoMany freelancers work as monotributistas or responsables inscriptos, exporting services that way. And it's perfectly legal. For a single person shop this would be the first case I hear of, of an incorporate company setup that way.
- ralsina 16y agoYes, it's perfectly legal, but is incredibly stupid in this case because of the liability. If you work on security this way, you are going to get sued eventually. If you are a monotributista or responsable inscripto, you will lose everything. A SRL (like a LLC) is the logical way to handle this kind of work. What I meant by illegally is that it would be illegal if he was already incorporated as a SRL and exporting services (he needs to do the escrow to do that legally).